What is Scotiabank's Estimate for CNP FY2024 Earnings?

CenterPoint Energy, Inc. (NYSE:CNP - Free Report) - Research analysts at Scotiabank lifted their FY2024 earnings per share estimates for shares of CenterPoint Energy in a note issued to investors on Wednesday, January 8th. Scotiabank analyst A. Weisel now forecasts that the utilities provider will post earnings per share of $1.63 for the year, up from their prior estimate of $1.61. Scotiabank currently has a "Sector Outperform" rating and a $35.00 target price on the stock. The consensus estimate for CenterPoint Energy's current full-year earnings is $1.62 per share. Scotiabank also issued estimates for CenterPoint Energy's FY2025 earnings at $1.75 EPS.

A number of other brokerages have also recently commented on CNP. Morgan Stanley decreased their target price on shares of CenterPoint Energy from $32.00 to $31.00 and set an "equal weight" rating on the stock in a research report on Friday, November 22nd. Wells Fargo & Company upped their price target on shares of CenterPoint Energy from $28.00 to $32.00 and gave the company an "equal weight" rating in a report on Wednesday, October 16th. LADENBURG THALM/SH SH initiated coverage on shares of CenterPoint Energy in a research report on Thursday, December 12th. They issued a "buy" rating and a $34.50 price objective on the stock. UBS Group raised CenterPoint Energy from a "neutral" rating to a "buy" rating and raised their target price for the stock from $31.00 to $37.00 in a research note on Tuesday, December 3rd. Finally, StockNews.com lowered CenterPoint Energy from a "hold" rating to a "sell" rating in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, CenterPoint Energy presently has a consensus rating of "Hold" and a consensus price target of $31.27.

CenterPoint Energy Price Performance

Shares of CenterPoint Energy stock traded up $0.46 during trading on Monday, hitting $31.64. 3,641,199 shares of the stock traded hands, compared to its average volume of 3,987,697. The stock has a market cap of $20.62 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 2.77 and a beta of 0.95. CenterPoint Energy has a 52 week low of $25.41 and a 52 week high of $33.00. The firm's fifty day moving average is $31.46 and its 200-day moving average is $29.56. The company has a quick ratio of 0.92, a current ratio of 1.11 and a debt-to-equity ratio of 1.87.

CenterPoint Energy (NYSE:CNP - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The utilities provider reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. The firm had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.88 billion. CenterPoint Energy had a net margin of 11.25% and a return on equity of 9.73%. During the same quarter last year, the company posted $0.40 EPS.

Institutional Investors Weigh In On CenterPoint Energy

Several hedge funds and other institutional investors have recently made changes to their positions in CNP. ING Groep NV purchased a new stake in CenterPoint Energy during the third quarter valued at approximately $2,564,000. DRW Securities LLC bought a new stake in shares of CenterPoint Energy during the 3rd quarter valued at $908,000. Swiss National Bank increased its stake in shares of CenterPoint Energy by 1.3% in the 3rd quarter. Swiss National Bank now owns 1,898,800 shares of the utilities provider's stock worth $55,863,000 after purchasing an additional 24,400 shares in the last quarter. Bank of Montreal Can raised its holdings in CenterPoint Energy by 13.4% in the 2nd quarter. Bank of Montreal Can now owns 1,052,237 shares of the utilities provider's stock worth $32,630,000 after purchasing an additional 124,529 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in CenterPoint Energy during the third quarter valued at $705,000. Hedge funds and other institutional investors own 91.77% of the company's stock.

CenterPoint Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be issued a $0.22 dividend. This is an increase from CenterPoint Energy's previous quarterly dividend of $0.21. The ex-dividend date is Thursday, February 20th. This represents a $0.88 dividend on an annualized basis and a yield of 2.78%. CenterPoint Energy's dividend payout ratio is currently 58.28%.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through two segments, Electric and Natural Gas. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as optimizes assets in the wholesale power market.